London event space and restaurant Vinopolis is to close at the end of the year.
The wine tour and tasting experience, along with Cantina Vinopolis, has been open since 1999. Around 60 staff from the venue and 120 from the restaurant are set to lose their jobs.
Vinopolis managing director Samantha Anderson told Event Magazine that the site next to London's Borough Market would be converted to retail premises.
She said: "We have come to the end of what could reasonably be achieved with the wine experience and feel that it is time for new life to be breathed into the timeless space. After 16 years we will close the doors proudly after a year of celebrating what has been achieved in style."
Events at the 2.5 acre site will continue as normal until the 31 December 2015.